Performant Financial Corporation (Performant) is a leading provider of technology-enabled recovery and related analytics services in the United States. Performant was founded in 1976 and is currently headquartered in Livermore, California. We generally provide our services on an outsourced basis, where we handle many or all aspects of our clients' recovery processes. Our clients typically operate in complex and regulated environments and outsource their recovery needs in order to reduce losses on billions of dollars.
Through our refined "asset-light" outsourced services platform, we are able to identify and recover delinquent or defaulted assets and improper payments across various public and private sectors. We have built long-term relationships with our customers in various government, healthcare and financial services markets.
We have continuously developed and refined our technology platform for almost two decades by using our extensive domain and data processing expertise. Our easily adaptable technology platform allows us to achieve higher workforce productivity versus more traditional labor-intensive outsourcing business models.
Our revenue model is generally success-based and does not require any significant upfront investments by our clients to recover significant funds that are otherwise lost. Because our model is based upon the success of our efforts, our business objectives are well-aligned with those of our clients and we are generally not reliant on their spending budgets. Furthermore, our business model does not require significant capital expenditures and we do not purchase loans or obligations.
Performant is uniquely structured to meet our public and private sector client needs in an effective manner through a differentiated solution that leverages our technology platform with business analytics along with sound operational experience.